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Election Update – All Bad For Republicans

September 21, 2012

Bloomberg.com – Warren and Brown Spare No Attacks in Massachusetts Senate Debate Republican incumbent Scott Brown criticized Democrat Elizabeth Warren for withholding records that might show she claimed Native American ancestry in job applications, while she assailed him for supporting billionaires and opposing legislation to create new jobs, in their first debate in the U.S.… Continue reading Election Update – All Bad For Republicans

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A Hawk Becomes Dovish

September 21, 2012

The Wall Street – Jon Hilsenrath:  Fed’s Kocherlakota Shifts on Unemployment A hawk at the Federal Reserve has changed his plumage. Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, said in a speech Thursday that the central bank should respond to high unemployment with an even more aggressive approach than the Fed announced… Continue reading A Hawk Becomes Dovish

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The Federal Reserve And The Stock Market

September 21, 2012

The Economist – America’s economy: Cliffhanger Ben Bernanke has done his bit to help the American economy. Now the politicians must do theirs EVEN by the standards of a weak recovery, America’s economy has looked frail lately. Growth has sunk below 2%. Unemployment is stuck above 8%. Factory activity seems to be shrinking. Yet there… Continue reading The Federal Reserve And The Stock Market

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Will China And Japan Really Go To War?

September 21, 2012

<Click on graphic for larger image> The Economist – China and Japan: Could Asia really go to war over these? The bickering over islands is a serious threat to the region’s peace and prosperity THE countries of Asia do not exactly see the world in a grain of sand, but they have identified grave threats… Continue reading Will China And Japan Really Go To War?

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More Greek Haircuts

September 21, 2012

Spiegel (Germany) – Debt Relief: Lenders Reportedly Consider New Greek Haircut Greece is scrambling to get its finances is in order, but the country’s efforts may still be insufficient. Many argue Athens will need another debt haircut in order to ease its financial burdens. A German newspaper is reporting that lenders are already considering a… Continue reading More Greek Haircuts

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Corporate Bond Issuance

September 21, 2012

The Financial Times – Long-term corporate bonds – dirty thirty Money is dirt cheap and, as every child knows, it’s fun to get dirty. Companies are in a rush to lock in as much long-term debt as they can. They have sold more than $100bn of 30-year investment-grade corporate debt in the US so far… Continue reading Corporate Bond Issuance

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Newsclips

Fear & Greed

September 21, 2012

CNN – Fear & Greed Index Investors are driven by two emotions: fear and greed. Too much fear can sink stocks well below where they should be. When investors get greedy, they can bid up stock prices way too far. So what emotion is driving the market now? CNNMoney’s Fear & Greed index makes it… Continue reading Fear & Greed

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Cartoons

September 21, 2012

None Today

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Newsclips

What To Expect In An Unlimited And Open-Ended Central Bank World

September 20, 2012

Comment On Friday, September 21, 2012 at 9 AM CT (10:00 AM ET, 7:00 AM PT, and 15:00 BST), Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. Join us Friday (not the usual Thursday time slot) as we discuss the implications of the ECB’s unlimited… Continue reading What To Expect In An Unlimited And Open-Ended Central Bank World

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The Brent/WTI Spread

September 20, 2012

<Click on chart for larger image> The Financial Times – Investors refine bets on crude price gap For nearly two years oil extracted from the middle of the US and Canada has traded at steep discounts to oil delivered in ocean tankers as North American drillers pump more than pipelines can take to refineries. Now… Continue reading The Brent/WTI Spread

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Germany’s Mushrooming TARGET2 Imbalance

September 20, 2012

<Click on chart for larger image> Vox.org – What Germany should fear most is its own fear The large expansion of TARGET2 claims and liabilities since the start of the sovereign debt crisis has led to fears that countries like Germany would lose vast amounts if the Eurozone broke up (Sinn and Wollmershäuser 2012)1. This… Continue reading Germany’s Mushrooming TARGET2 Imbalance

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Coordinated Central Banking

September 20, 2012

The Wall Street Journal – Central Banks Flex Muscles Massive injections of stimulus into financial markets by the world’s largest central banks are creating a domino effect around the globe, prompting governments from Brazil to Turkey to take steps to keep easy money from flooding in and driving up their currencies…As with past episodes of… Continue reading Coordinated Central Banking